First Solar: quest for the $1 Watt

If you just want to power a billion-dollar space probe, almost any price per watt is acceptable. In some parts of the world, competing with grid electricity itself may be an easy game during peak consumption hours. But if you want the off-peak market, you'll have to price your cells at about US $1 per watt. That price is called grid parity, and it's the holy grail of the photovoltaic industry. At least 80 firms around the world, from Austin to Osaka, are in the chase. Surprisingly, at the moment no company is closer to that grail than a little start-up called First Solar, which until very recently had been known only to specialists. It's located in Tempe, Ariz., and analysts agree that it will very likely meet typical grid-parity prices in developed countries in just two to four years. This paper discusses how First Solar was able to achieve this position in the market.